The second week of February 2026 began with the Nigerian Naira in a strong position compared to the US dollar. The local currency is maintaining its recent trend of stability, bolstered by steady policy actions and robust external reserve holdings, according to trading data gathered today.
The Naira began the week at a modest gain of about 1,363.84 to the dollar on the Nigerian Foreign Exchange Market (NFEM). This follows Friday’s closing rate of 1,366.96, which indicates a slight increase as trading activity resumes.
The rate fluctuated narrowly during the early trading sessions at the NFEM, ranging from 1,363.35 to 1,363.84. The Central Bank of Nigeria’s (CBN) effective administration of the Electronic Foreign Exchange Matching System (EFEMS), which has promoted increased transparency and reduced the gap between various market segments, is credited by market analysts with this consistent performance.
BrandSpur banking and finance news desk reports that the currency has found a solid footing below the psychological 1,400 mark, with a reported inflation rate of 15.15 percent and a stable Monetary Policy Rate (MPR) of 27.00 percent as of early 2026.
The stability observed in the official window has been reflected in the informal sector, also known as the parallel market. Bureau De Change agents quote the dollar between 1,440 and 1,455 in major commercial centres like Lagos, Abuja, and Kano.
The spread is still much lower than the volatility seen in late 2025, even though the informal market is still trading at a premium. According to traders, current supply levels are sufficient to meet retail demand for personal travel and small-scale imports. The lack of speculative pressure at the beginning of the week indicates that the CBN’s strategy of directing corporate demand toward the official window is still working, as it keeps the black market from experiencing abrupt intraday spikes.
